Rethinking Mobile Money: From App Integration to Embedded Financial Platforms

In recent discussions around mobile financial services, a recurring question has surfaced: Should telecom operators merge their Mobile Money apps into their main self-service platforms? On the surface, integration seems to promise streamlined development, focused user traffic, and lower promotional costs—particularly in markets across Africa and other emerging regions.

However, I believe this line of thinking may be too narrow. Instead of merely considering whether to combine apps, we should ask: How can Mobile Money evolve into a foundational financial capability—one that is accessible everywhere, at any moment, and serves as the backbone for a broader digital ecosystem?

Mobile Money is not just another service to be bundled into an app. In practice, users encounter financial needs across a variety of contexts: topping up mobile data, paying utility bills, sending money to friends, or making small purchases. The true value lies in making Mobile Money ever-present—integrated seamlessly across all digital touchpoints, rather than isolated within a single application.

Looking at the Chinese fintech experience, market leaders such as Alipay and WeChat did not dominate by launching standalone finance apps. Instead, they embedded payments and financial services into social, commerce, and mobility scenarios—transforming themselves into platforms that power a wide array of digital experiences.

For telcos in Africa, Latin America, or South Asia, this suggests a practical path forward:

1. Develop Mobile Money as a modular capability, accessible via SDKs and APIs across all digital channels—main apps, mini apps, partner platforms, and even USSD.

2. Establish a Financial Capability Registry: a centralized directory of services (transfer, payments, credit, etc.) available for both internal and external use.

3. Reimagine the main self-service app as a container or service launcher, rather than a monolithic solution.

This shift enables greater flexibility, rapid innovation, and the ability to leverage ecosystem partnerships. Ultimately, the real competitive advantage is not in owning more apps, but in being present at more moments in a user’s digital journey. Telecom operators should look beyond simple integration and embrace financial services as embedded infrastructure—fluid, scalable, and ready for the ecosystem era.

The convergence of finance and everyday scenarios is where the future truly lies.